Is that all you got? LOL. So you analyze charts? Tell me big guy, what are your "charts" telling you?
From charts you provided I got you're stupid arrogant idiot And as you post a lot of garbage here it'll be fun to expose your stupidity from time to time
Hey huckleberry, since you admitted on another thread you have only placed one trade in the last year, what are you doing on a trading message board? Why do you hang out here if you don't trade? I don't hang out on NRA message boards because I don't own a gun. What's your excuse? LOL.
Do you really want it to break? Rather than being on the sidelines trying to rationalise why the markets are going up it's better to be taking advantage and making some money. The truth is no one knows how long this might run for. As a trader you have got to deal in the present.
Now if you stop and think about had you gone long December1st and just sat there you would be sitting on some handsome profits.
Thats what happens when you fight the tape. You lose money. I have some cheap puts just in case we get some crazy plummet. But right now long is king.
One should realize that since the end of Bretton Woods, inflation has been the most important driver of the US market. Inflation of course also drives corporate earnings in nominal terms. We will, naturally, have ups and downs. In fact, following what looks to be a strong move into options expiration, I would anticipate at least a lackluster week, and quite possibly a down one. The more important question I suppose is when will we have a real correction - 5 to 10% down. Well there is no way to know in advance. In addition to all the other factors that have already been mentioned, consider that savvy money traders went short the U.S. Dollar as soon as it was clear what the Fed approach to bringing us out of deep recession was going to be. When Soros said. as we moved ever deeper into recession, "I know exactly what is going to happen to the dollar"? he was obviously anticipating a weakening dollar. Eventually those short dollar positions will be covered. This, together with tightening by the Fed will cool the market. But that said, It seems to me that there is still much money on the sidelines that can find its way into the market. And until everyone has bought that will, and that could be a long ways off, the market won't fall much. There are a few potential disasters waiting in the wings, A run on the dollar might be part and parcel of the dollar losing its reserve status. Then the dollar might drop precipitously, and that would be, as Dick Button said after that Olympic skater fell four times, "less than good". http://www.youtube.com/watch?v=2j-9lXwSM8A&feature=related But consider also that the U.S. has the other central banks by the short hairs. The world is awash in dollars. If you're holding dollars you would not want to see their value decimated. I don't see the dollar losing its reserve status any time soon. I think it far more likely that we will see instead foreign interests using their dollars to step up acquisition of U.S. assets. If the U.S. government trys to prevent that, it won't be well received. All in all, I think Bernanke has done a good job so far in a very challenging environment. But there is a limit to what can be done in a country whose government is firmly in the hands of corporate interests. Free competition is losing out to capitalism, and that might be good for the stock market, but bad for the country. Is what's good for General Motors Good for the Country? Not necessarily. Someone is going to get rich, but it might not be you.
http://www.investopedia.com/terms/s/sportsillustratedindicator.asp This year will be a Russian model. Not good news for the market. http://sportsillustrated.cnn.com/2011_swimsuit/models/irina-shayk/